Early-Retiree Health-Insurance Fund to Wind Down

Dec 9, 2011 2:35 pm ET

The Obama administration announced plans Friday to wind down a $5 billion fund to pay for health insurance for early retirees, including the institution of a Dec. 31 deadline for employers to tap into the remaining funds.

The fund has been reimbursing companies and local-government pension funds for the cost of benefits for workers aged 55 to 64 since it was created as part of the health-care overhaul passed last year …